U.S. Government Auctions What and What’s Not
Are you looking to find the best opportunity to buy unusual or quality merchandise at bargain prices? This opportunity could be at a U.S. government auction. Auctions by the U.S. federal government takes place on a continuous basis, both online and locally and are conducted in various parts of th
For information regarding all of the government auctions being held and will be held yet, the Firtgov.gov is a good online source. This site has been billed as the official online portal of the United States government. The website contains all of the information you would ever need regarding federal government auctions as well as those being held by your particular state or local government.
If you are wondering what the government sells during their auction activities, you should know that they do have a lot of items for sale – every item imaginable and even those that can be quite astounding. They sell surplus items and equipment and seized or forfeited properties through an auction.
What are these surplus goods? They are items, supplies or equipment that are bought by the government, but does not need anymore. Surplus goods can be anything from office equipment and furniture, telemetry guidance systems, Coast Guard boats, even medical supplies and equipment.
On the other hand, forfeited properties may consist of real estate like houses and commercial buildings that are mortgages with federal guarantee but the owner already defaulted in payment. Once the mortgage has been foreclosed, the real estate property can already be offered up for sale at auction. Seized properties, meanwhile may consist of properties owned by convicted criminals and purchased with the money they earned while committing a crime. These properties may be anything from houses, vehicles, boats, planes, cards, artwork, jewelry and other personal belongings. Usually, seized properties are sold by the government at auction to the one with the highest bid.
Government auctions are not conducted by just having one major auction. Each government agency with control of items that can be put up for sale at auctions could launch their own activity independently or in collaboration with other agencies.
The U.S. Air Force independently run auctions, while the U.S. Marshals Service run auctions for itself and the FBI, INS, Department of Justice, and ATF. Then, the U.S. Treasury also handles its own auctions and the IRS’ auctions. Other agencies that run their own auctions are the Customs and Border Patrol.
Every agency that handles auctions has different set of rules and quirks for such activity. As such, if you plan to buy property by participating in these auctions, you need to be aware of the way the game is played.
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